Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Robocap Asset Management Ltd

Robocap Asset Management Ltd lifted its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 16.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,960 shares of the company's stock after purchasing an additional 8,614 shares during the period. Datadog comprises about 4.4% of Robocap Asset Management Ltd's investment portfolio, making the stock its 11th largest position. Robocap Asset Management Ltd's holdings in Datadog were worth $5,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Exane Asset Management bought a new position in shares of Datadog in the first quarter worth about $3,531,000. Brown Advisory Inc. grew its holdings in shares of Datadog by 76.5% in the first quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock worth $481,467,000 after purchasing an additional 2,103,838 shares during the last quarter. Financial Counselors Inc. grew its holdings in shares of Datadog by 3.8% in the first quarter. Financial Counselors Inc. now owns 40,558 shares of the company's stock worth $4,024,000 after purchasing an additional 1,499 shares during the last quarter. YANKCOM Partnership grew its holdings in shares of Datadog by 12.0% in the first quarter. YANKCOM Partnership now owns 927 shares of the company's stock worth $92,000 after purchasing an additional 99 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Datadog by 41.2% in the first quarter. TD Private Client Wealth LLC now owns 6,660 shares of the company's stock worth $661,000 after purchasing an additional 1,943 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DDOG shares. Wells Fargo & Company cut their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. DA Davidson upped their price objective on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research note on Thursday, June 12th. Finally, BTIG Research set a $136.00 price objective on shares of Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat, Datadog has a consensus rating of "Moderate Buy" and an average target price of $144.27.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the sale, the chief executive officer owned 548,715 shares of the company's stock, valued at $66,784,102.65. This trade represents a 16.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the sale, the chief technology officer directly owned 466,535 shares in the company, valued at $49,373,399.05. The trade was a 21.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 866,806 shares of company stock worth $104,910,027 in the last ninety days. 8.70% of the stock is owned by company insiders.

Datadog Stock Performance

Shares of Datadog stock traded down $5.26 during midday trading on Thursday, hitting $137.49. The company had a trading volume of 9,620,023 shares, compared to its average volume of 4,966,094. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The stock has a market cap of $47.48 billion, a price-to-earnings ratio of 298.90, a PEG ratio of 80.73 and a beta of 1.03. The company has a fifty day simple moving average of $122.70 and a 200 day simple moving average of $121.06.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same period last year, the firm posted $0.44 EPS. Datadog's revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

About Datadog

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.